Idea share price

Vodafone Idea Share Price: Vodafone Idea shares are in focus as the government has granted nod to convert over Rs 16000 crore dues into equity.

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As VI's interest dues will be converted into 33% equity for the government, the scrip jumped to Rs 8.55 on Monday.

A close above 7.85 could lead to higher targets of 10.10-11.5 in the near term. The government would act as a sleeping partner to support the company running the business, which will help the firm improve in the tight competition against Airtel and Jio, said Prashanth Tapse, Research Analyst, Sr VP Research, Mehta Equities. The issue price of Rs 10 came at a premium of 45.9% to Friday’s closing price. The net present value of the interest dues regarding the AGR dues and deferment of spectrum auction installments amounts to Rs 16,133.10 crore which will be converted into a 33% stake in the loss-making operator. As a result of the government’s reform package, VI will issue 16 billion fresh shares, adding to its existing base of 32 billion fully-paid up equity shares. The market capitalization of the company rose to Rs 26,819 crore on the back of this news.

Vodafone Idea stocks jumped on Monday after the government okayed the company's 16133 cr debt-to-equity plan. The government directed to convert Rs 16133 ...

A Girl Abducted In Broad Daylight At Muzaffarpur The government directed to convert Rs 16,133 crore dues of [Vodafone](/topic/vodafone)Idea into equity. Adani Group shares extend selloff](#) [Vodafone Idea](/topic/vodafone-idea)stocks jumped on Monday after the government okayed the company's 16,133 crore debt-to-equity plan.

Shares of Indus Towers, too, surged 15 per cent to Rs 164.80 on the BSE.

In Q3FY23, the company's revenues were down 12.7 per cent quarter-on-quarter (QoQ) and 5 per cent year-on-year (YoY) at Rs 6,765 crore. The reported earnings before interest, taxes, depreciation, and amortization (ebitda) were down 68.6 per cent YoY at Rs 1,163 crore, with Ebitda margins down 36 percentage points YoY at 17.2 per cent. The company had made a net profit of Rs 872 crore in September quarter (Q2FY23). The stock had hit over two-year low of Rs 135.20 on January 27, 2023. The stock trades in the futures & option (F&O) segment, which has no circuit limits. The development comes nearly 13 months after the Vi board cleared the interest conversion.

The Centre is now the largest shareholder in Vi, with a 33% stake as it agreed to convert its dues worth ₹16000 crore into equity shares.

Fundraising remains critical for the company’s competitiveness as the telecom operator has accumulated losses to the tune of ₹1.6 lakh crore in the last four financial years. In the last one month, the stock has gained over 8%, while it rose 22% in a week. The counter saw spurt in volume as 1,500 lakh stock changed hands over the counter as compared to the two-week average volume of 332 lakh stocks. The move came after the government received assurance from the Aditya Birla Group (ABG) to bring in necessary funds. Extending opening gains, the telecom stock surged 24.4% to hit an intraday high of ₹8.57, while the market capitalisation rose to ₹26,948 crore. Shares of Vodafone Idea (Vi) rallied over 24% in intraday trade on Monday after the government finally agreed to convert the telco’s accrued interest into equity, which will help the cash-strapped company to refinance its existing bank debt and pay vendor dues.

Vi quickly needs to clear dues of vendors like Indus Towers and expand its existing 4G network. It also needs to finalise 5G gear supply contracts with the ...

[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). On Friday, the government agreed to convert Vi’s Rs 16,133.18 crore accrued interest on deferred adjusted gross revenue (AGR) dues into equity at 10 a share. So, any refinancing—or extension/rolling over of current loan repayment deadlines—would be vital as it has a Rs 9,600 crore upcoming debt repayment by September 2023, say analysts. For fastest news alerts on financial markets, investment strategies and stocks alerts, [subscribe to our Telegram feeds](https://t.me/joinchat/J60pKE7SOStsj5sI8nDmHQ).) He added that if the refinancing happens, it would help Vi clear a portion of its dues to tower companies and network vendors and put in some network capex to strengthen its 4G operation in the near term. The move came after it received an assurance from Vi’s promoters that they are committed to the company and would bring in the necessary funds.

Vi quickly needs to clear dues of vendors like Indus Towers and expand its existing 4G network. It also needs to finalise 5G gear supply contracts with the ...

[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). The FPI route is for foreign investment in rupee-denominated debt. For fastest news alerts on financial markets, investment strategies and stocks alerts, [subscribe to our Telegram feeds](https://t.me/joinchat/J60pKE7SOStsj5sI8nDmHQ).) The ECB mechanism is for borrowings in foreign currency. Vi quickly needs to clear dues of vendors like Indus Towers and expand its existing 4G network. [Need More Foreign Investment to Boost Corporate Debt Markets](/epaper/delhicapital/2023/feb/06/et-front/need-more-foreign-investment-to-boost-corporate-debt-markets/articleshow/97628785.cms)